VersaBank shareholders overwhelmingly approved a proposed reorganization at a special meeting held on September 16, 2026. The resolution passed with 99.69% of the votes cast in favor, totaling 21,915,383 shares out of 21,981,591 voted. This corporate restructuring involves creating Versa Bancorp as a new Delaware holding company to directly own VersaBank. The transaction is targeted for completion by the end of October 2026, pending regulatory approvals from the Canadian Minister of Finance and the U.S. Federal Reserve Board. Management stated this move aims to strengthen the bank's foundation in Canada while expanding its Structured Receivable Program in the United States. VersaBank operates as a digital, branchless business-to-business bank providing financing solutions for underserved segments in North America.
